Dubai
The activities of the Digital Economy Technologies Conference and Exhibition “Seamless Middle East 2024” continue for the second day in a row, which will be held at the Convention and Exhibition Center in Dubai, during the period from May 14-16, 2024, sponsored by the League of Arab States and organized by the Arab Federation for the Digital Economy. And the international conference organizing company Terrapin, which showcases the latest technology in the fields of electronic and digital payments, e-commerce, the retail sector, financial technology, digital identity, and digital services.
Dr. Ali Al-Khouri: Arab digital transformation requires annual strategic investments of no less than $90 billion
In a keynote speech by His Excellency Dr. Ali Mohamed Al Khouri, Chairman of the Board of Directors of the Arab Federation for the Digital Economy, at the Digital Economy Technologies Conference and Exhibition “Seamless Middle East 2024,” he stressed the urgent need for Arab countries to participate more strongly in the digital arena – not only to keep pace with the times, but to maximize… The economic and social opportunities arising from this transformation.
He stated that the concept of digital transformation is no longer limited to improving services or accelerating operations, but rather it represents the basic pillar of the global economic infrastructure, and the Arab world has become on the cusp of a golden opportunity to benefit from digital technologies in shaping a more developed economic future
In his speech, he discussed the main results of the Arab Digital Economy Index Report (2024), and the UAE’s continued leadership in the Arab digital scene, followed by the Kingdom of Saudi Arabia and the State of Qatar, noting the ambitious strategies and thoughtful investments to build capabilities and develop digital infrastructure and technological innovations.
He touched on the noticeable gaps between Arab countries and between them and benchmarking countries, stressing the need to focus national reforms and investments to overcome current challenges and ensure sustainable growth and successful digital transformation in the region.
He explained that global uncertainties, geopolitical instability, and global “domino” effects on the economic scene are undermining and disrupting global supply chains, and causing stifling crises such as rising prices and unprecedented inflation rates. This requires the development of integrated regional strategies to make the region an attractive destination for investments in technologies. Advanced, by accelerating the digital transformation process to achieve positive results on the general domestic product, jobs, individual income, and families.
He pointed out that the digital infrastructure still needs to be modernized and expanded, especially in building data centers to operate advanced digital technologies such as artificial intelligence and machine learning. He also pointed out that Arab countries must intensify their efforts in developing educational programs that focus on enhancing digital skills and making them available. Through e-learning platforms and social media; To ensure digital knowledge integration and raise the efficiency of the workforce.
He noted the importance of regulatory frameworks to create environments that support innovation and investment in the digital economy, and to enact laws and legislation that help protect intellectual property and information. To encourage the growth of startups and digital innovations.
He pointed out that the strategic challenge is linked to the manner in which investments in the digital sectors are secured, and that this requires creating incentives for investors and facilitating administrative procedures to attract local and foreign investments, in addition to interest in regional and international cooperation to exploit expertise and advanced technologies, and that this step may help a lot to bridge the… The large gap shown by the index between the three groups of Arab countries.
He pointed out that in order to achieve a real digital impact according to the “Arab Vision for the Digital Economy,” governments should allocate no less than (3%) of the gross national product in their annual budgets, and an estimated amount of about (90) billion dollars at the level of the Arab region annually, and that Despite the huge size of these budgets, the expected returns will be tens of times greater.
He concluded his speech by emphasizing that the rapid and astonishing technological progress requires building regional and international partnerships to exchange experiences and knowledge in the field of innovation and employing these modern technologies, such as artificial intelligence, in shaping the Arab economic and social future, and that it is important for Arab countries to continue building on what has been achieved so far. It must be accompanied by a deep understanding of the challenges it faces, going beyond the limits of traditional concepts and practices and prevailing models of preparedness, and absorbing new technologies that will enhance its economic capabilities.
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